Ripple: Price Analysis, April 09

1

XRP/USD

Ripple held the April 01 lows of $0.45351 and is trying to recover, but the buying is very sluggish. Its overhead resistance is at $0.56270.




XRP/USD

The XRP/USD pair can remain range bound between $0.45351 and $0.56270 for the next few days.




Once the virtual currency breaks out of this range, it can rally to the $0.72, where it will face resistance from the 50-day SMA. A breakdown of the consolidation will sink it to $0.35 levels.

We shall wait for a confirmed break out and close above $0.56270 before recommending any trade.

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